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Treasury Bond Prices Rise

September 9, 1998

NEW YORK (AP) _ Treasury bond prices were higher at midday.

The price of the Treasury’s main 30-year bond was up 29-32 point, or $9.06 1/4 per $1,000 in face value, around midday, while its yield dropped to 5.29 percent from 5.35 percent late Tuesday. Prices and yields move in opposite directions.

Yields on three-month Treasury bills fell to 4.86 percent from Tuesday;’s auction level as the discount lost 0.05 percentage point to 4.75 percent. Six-month yields fell to 4.89 percent from Tuesday’s auction as the discount sank 0.07 percentage point to 4.72 percent. One-year yields fell to 4.80 percent as the discount skidded 0.09 percentage point to 4.59 percent.

Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.

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